The Benefits and Drawbacks of Coworking Spaces

The Benefits and Drawbacks of Coworking Spaces

Are you interested in learning more about coworking spaces? These locations offer an interesting alternative for remote workers who don’t always feel like work from home.

Individuals or small businesses can hire a desk or office space in co-working facilities, which are shared offices. Coworking spaces are by their very nature communal, with numerous common areas meant to encourage individuals to meet and network.

Coworking spaces attempt to differentiate themselves from traditional office spaces by offering amenities such as coffee bars, complimentary refreshments, comfy chairs, standing workstations, conference rooms, printing, yoga and fitness programs, and more. It’s no surprise, then, that coworking spaces are becoming more popular.

The Effects of a Pandemic

In 2019, more than 3 million people used coworking spaces throughout the world, and that number is predicted to nearly double by 2022.

Naturally, everyone who could be working from home did so at the start of the pandemic, resulting in many individuals and businesses canceling their coworking space subscriptions.

Coworking and flexible workplaces grew by about 25% between 2014 and the first half of 2019, accounting for 10% to 20% of total corporate lease activity. However, compared to 2018, leasing was down 50% in the fourth quarter of 2019.

For Whom Are Coworking Spaces Beneficial?

Freelancers make up around 41% of the coworking population. Corporate employees, on the other hand, come in second at 36%, just below freelancers. This could be as a result of companies hiring space for their home-based staff or remote employees deciding to use coworking spaces on their own.

A coworking space can also help small enterprises. These locations reduce a small business’s overhead expenditures by eliminating the need to provide internet, workstations, chairs, and other amenities.

When it comes to the industries that use coworking spaces the most, information technology is at the top of the list (22 percent ). Public relations, marketing, and sales account for 14% of the total, while consultants account for 6%.

As the US economy continues to reopen and individuals return to work, the places where they return to work are likely to shift. Many workers discovered that they enjoy working somewhere other than the office, but they also discovered that they dislike working at home—especially if they don’t have a separate office or live in a limited space.

Additional workers may decide that a coworking space is perfect for them and will join up when more organizations across various industries choose to remain totally remote or migrate to a hybrid workplace.

The Benefits and Drawbacks of Coworking Spaces

The Benefits and Drawbacks of Coworking Spaces

Testing multiple local places is the greatest way to genuinely determine whether or not a coworking arrangement fulfills your demands and complements your personality. However, knowing what to expect while entering one is beneficial.

Amenities

Coworking spaces differ greatly in terms of equipment and space configurations. Before you sign on the dotted line, carefully consider your requirements.

  • Con: You learn the hard way that the internet connection there is insufficient to meet your high-tech requirements.
  • Pro: Being able to reserve a room to meet with a customer eliminates the inconvenience of attempting to arrange a meeting at a café or being concerned about inviting a stranger into your home.

Socializing and Networking

When you don’t interact with others on a regular basis, making bonds might be difficult. Members get to know one another through activities hosted by the facility, in addition to people you meet while setting up shop at a coworking space.

  • Con: When doing activities, chatty people may impede you from getting the most out of your time. Getting drawn into pointless talks might also serve as a reminder of how much you despise office small talk.
  • Pro: Sharing lunch with a new acquaintance can be entertaining and potentially beneficial to your job, resulting in more natural networking.

Travel

A suitable coworking space may be right around the corner or quite a ways away, depending on where you reside. You are the only one who can decide whether the journey is worthwhile.

  • Con: To avoid commuting, many people opt to remote work. Visiting a coworking place means returning to traffic and battling the elements.
  • Pro: When the weather is nice or you just need to get out of the house, a trip to a coworking space may be a fun way to spend your time while also increasing your productivity.

Working in a Group

Even happy remote employees get lonely or bored from time to time. Coworking spaces give a venue where telecommuters can do their own thing without feeling isolated.

  • Con: The goings-on and conversations can be annoying and distracting.
  • Pro: When you’re around by other professionals who are busy performing their jobs, you can get your people fix and be driven to produce.

Cost

Finally, while there are some free coworking spaces, most places charge users. A per-use price, a punch card, a package, or limitless access could all be options. The services to which you are entitled may vary depending on your level.

  • Con: Some individuals believe that paying to work somewhere when you have a perfectly nice home office available is a waste of money. Similarly, feeling compelled to use the space as a result of signing up for a plan may appear to be a blow to the freedom that brought you to telecommuting in the first place.
  • Pro: It could be money well spent, and some businesses will pay or assist with the costs of coworking space.

More advice on how to succeed as a remote worker, whether from home or at a coworking space Jobs Searches blog contains a wealth of information for remote employees, including how to boost productivity, interact with bosses and coworkers, and save money as a remote worker.

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